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2. Draw and properly label the AD-AS graphs or one AD-AS graph to show recessionary and inflationary gaps (6%). Then, discuss in detail how Keynesians suggest that recessionary and inflationary gaps be closed. (16%) 2. D

2. Draw and properly label the AD-AS graphs or one AD-AS graph to show recessionary and inflationary gaps (6%). Then, discuss in detail how Keynesians suggest that recessionary and inflationary gaps be closed. (16%) 2. D

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter24: The Aggregate Demand/aggregate Supply Model
Section: Chapter Questions
Problem 36RQ: How is pressure for inflationary price increases shown in an AD/AS model?
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2. Draw and properly label the AD-AS graphs or one AD-AS graph to show recessionary and inflationary gaps (6%). Then, discuss in detail how Keynesians suggest that recessionary and inflationary gaps be closed. (16%) 2. D
Transcribed Image Text:2. Draw and properly label the AD-AS graphs or one AD-AS graph to show recessionary and inflationary gaps (6%). Then, discuss in detail how Keynesians suggest that recessionary and inflationary gaps be closed. (16%) 2. D
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